importance of balanced scorecard
importance of balanced scorecard
Homework Answers
Balance scorecard is a tool to keep check on financial and other operational measures. Efficient management of operational measures will automatically lead to financial success. It measures performance in four following four perspectives -
1) Financial
2) Customer
3) Internal business
4) Innovation and learning
This scorecard helps giving overall strategic management of various aspects of business and helps executives in tracking business performance in various divisions, identify bottlenecks, resolve issues timely, identify achievements.
Which of the following statements about the Balanced Scorecard is true? a. An effective balanced scorecard...
Which of the following statements about the Balanced Scorecard is true? a. An effective balanced scorecard will create a strategy map and validate the cause-and-effect relationships between measures in the four perspectives and financial outcomes. b. The four balanced scorecard ‘perspectives’ used by all companies are the: operational, investing, financing, and customer perspectives. c. A balanced scorecard is commonly used to evaluate investment decisions.
Discuss the motivation and architecture of the balanced scorecard. Explain how the balanced scorecard is seen...
Discuss the motivation and architecture of the balanced scorecard. Explain how the balanced scorecard is seen in some in some quarters as a conceptually superior performance measurement and appraisal tool over “managing by numbers”.
Discuss the motivation and architecture of the balanced scorecard. Explain how the balanced scorecard is seen...
Discuss the motivation and architecture of the balanced scorecard. Explain how the balanced scorecard is seen in some in some quarters as a conceptually superior performance measurement and appraisal tool over “managing by numbers”.
The Balanced Scorecard 1. Why might measures used in a balanced scorecard differ from company to...
The Balanced Scorecard 1. Why might measures used in a balanced scorecard differ from company to company? 2. Why does the balanced scorecard include financial performance measures as well as measures of how well internal business processes are doing? 3. If you were at a company and were being reviewed on an annual basis for promotions, increases in salary, etc - would you prefer to be evaluated with a balanced scorecard approach? Some other assessment method? Why?
Chapter Twelve discusses the Balanced Scorecard as a multi-dimensional assessment tool to determine if the company...
Chapter Twelve discusses the Balanced Scorecard as a multi-dimensional assessment tool to determine if the company performance is in alignment with its strategies to achieve its goals. Consider one or more features or measurements of the scorecard and discuss its importance in meeting a company's goals.
Cardinal Corporation is preparing its balanced scorecard for the past quarter. The balanced scorecard contains four...
Cardinal Corporation is preparing its balanced scorecard for the
past quarter. The balanced scorecard contains four perspectives:
financial, customer, internal business process, and learning and
growth.
Cardinal Corporation
Balanced Scorecard Report
For Quarter Ended December 31
Perspective:
Goal
Objective KPI
Goal
Actual
Achieved?
Financial:
Customer:
Through its strategic management planning process,
CardinalCardinal
Corporation has selected two specific objectives for each of the
four perspectives; these specific objectives are listed in the
following table.
Specific Objective
1.
Increase sales of...
Outline the importance of the balance scorecard to Boys Ranch
Outline the importance of the balance scorecard to Boys Ranch
what are the uses of balanced scorecard
what are the uses of balanced scorecard
importance of balance scorecard as a tool for directing and evaluating performance
importance of balance scorecard as a tool for directing and evaluating performance
Which of the following statements is true of successfully implementing a balanced scorecard? A) External auditors...
Which of the following statements is true of successfully implementing a balanced scorecard? A) External auditors should design and implement the balanced scorecard. B) Balanced scorecard should never be communicated to all employees. C) Balanced scorecard should be formed exclusively by top management. D) Management accountants should determine the balanced scorecard measures.
Cardinal Corporation is preparing its balanced scorecard for the
past quarter. The balanced scorecard contains four perspectives:
financial, customer, internal business process, and learning and
growth.
Cardinal Corporation
Balanced Scorecard Report
For Quarter Ended December 31
Perspective:
Goal
Objective KPI
Goal
Actual
Achieved?
Financial:
Customer:
Through its strategic management planning process,
CardinalCardinal
Corporation has selected two specific objectives for each of the
four perspectives; these specific objectives are listed in the
following table.
Specific Objective
1.
Increase sales of...
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